Industry News
Staff Cuts Help Fuel GEICO Profit; Not ‘Pouring Money’ Into AI: Jain
He's not yet ready to declare "mission accomplished," but Ajit Jain, vice chair of Berkshire Hathaway's insurance operations, said the conglomerate's personal auto insurer, GEICO, is no longer ...
Buffett to Step Down Following Six-Decade Run Atop Berkshire
Warren Buffett, who built Berkshire Hathaway Inc. into a business valued at more than $1.16 trillion and himself into a celebrity billionaire renowned for his investing acumen and witticisms, will ...
World’s First Catastrophe-Bond ETF Falters in ‘Crazy’ Market
The world's first-ever exchange-traded fund based on catastrophe bonds has failed to get the seed capital it expected after launching on the eve of the Trump administration's tariff war. "Some of our ...
Insured Losses Could Hit $145B in 2025, Driven by Rising Claims From Secondary Perils
Global insured losses from natural catastrophes hit $137 billion in 2024, following the 5-7 percent annual growth rate that has been the norm in recent years, according to Swiss Re analysis. If this ...
Insurance Customers Embrace AI When Clear Value, Benefits Shown: Survey
A new survey reveals that while 25 percent of U.S. adult respondents view AI use by insurers negatively, more than half (55 percent) are indifferent. But when AI delivers tangible benefits like ...
Apollo’s Aspen Insurance Targets $2.9B Valuation in US Stock Market Return
Aspen Insurance said on Tuesday it was seeking a valuation of up to $2.85 billion in its New York flotation, as the Bermudian specialty insurer looks to go public again in the ...
Progressive Insurance Is Hiring Again; 12,000 More People Needed
Almost a year to the day after Progressive announced it would hire more than 10,000 people to fill claims, IT and legal roles in 2024, the nation's second largest auto insurer said it now has 12,000 ...
Spring Storms Spur More Destructive Tornadoes, Hail and Floods
A new spring weather hazards report indicates the central and southeastern regions of the U.S. are expected to see destructive tornadoes, with nearly 4.8 million homes at high or very high risk, ...